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325 Exterior Street, West B...

Banco Inbursa Provides $35M Refinance Loan For Industrial Property In Mott Haven
FINANCEDIndustrial

Banco Inbursa Provides $35M Refinance Loan For Industrial Property In Mott Haven

325 Exterior Street, West Bronx, Bronx, NY, USA

$35,000,000

$1,348/SF

Building Size

25,962 SF

Asset Type

Industrial

Closing

Jul 9, 2021

AI

The industrial property located at 325 Exterior Street in Mott Haven has been involved in a loan transaction. The property, spanning 25,962 square feet, was refinanced for a loan amount of $35,000,000 by Banco Inbursa.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $35,000,000
  • Address: 325 Exterior Street
  • Market: Mott Haven
  • Lender: Banco Inbursa

The loan was requested by the property's landlord, David Lichtenstein & Mitchell Hochberg of Lightstone Group. The refinance transaction allows them to secure the necessary funds while leveraging the value of their industrial asset in Mott Haven.

Players

Banco Inbursa
Banco InbursaLender

David Lichtenstein

Lightstone Group

Landlord

$1.4B

vol

16 deals

Landlord

Bronx Industrial Market Snapshot

Boundary boundary · Industrial · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.45%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93